Vulcan Materials Company (NYSE:VMC) Short Interest Down 14.3% in February

Vulcan Materials Company (NYSE:VMC) saw a large drop in short interest in the month of February. As of February 13th, there was short interest totaling 4,020,542 shares, a drop of 14.3% from the January 29th total of 4,693,007 shares. Currently, 3.1% of the company’s shares are short sold. Based on an average daily volume of 1,263,707 shares, the days-to-cover ratio is presently 3.2 days. Based on an average daily volume of 1,263,707 shares, the days-to-cover ratio is presently 3.2 days. Currently, 3.1% of the company’s shares are short sold.

Vulcan Materials Stock Performance

Shares of NYSE VMC traded down $4.26 during midday trading on Wednesday, hitting $295.74. 529,034 shares of the company’s stock were exchanged, compared to its average volume of 1,117,745. The firm has a market cap of $38.62 billion, a P/E ratio of 36.42, a PEG ratio of 2.25 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.69 and a quick ratio of 1.97. Vulcan Materials has a twelve month low of $215.08 and a twelve month high of $331.09. The stock’s 50 day moving average price is $304.84 and its 200-day moving average price is $297.71.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Tuesday, February 17th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.41). Vulcan Materials had a net margin of 13.56% and a return on equity of 12.56%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the prior year, the company earned $2.17 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. Equities research analysts anticipate that Vulcan Materials will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.49. Vulcan Materials’s dividend payout ratio is presently 24.14%.

Analysts Set New Price Targets

VMC has been the subject of several recent analyst reports. B. Riley Financial initiated coverage on shares of Vulcan Materials in a report on Thursday, January 15th. They set a “buy” rating and a $345.00 price objective for the company. Wells Fargo & Company decreased their price target on Vulcan Materials from $317.00 to $315.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. Royal Bank Of Canada reduced their target price on Vulcan Materials from $316.00 to $296.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 18th. Wall Street Zen downgraded Vulcan Materials from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Finally, Truist Financial upped their price target on Vulcan Materials from $320.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Vulcan Materials has an average rating of “Moderate Buy” and an average target price of $326.14.

Insider Activity

In related news, Director Melissa H. Anderson sold 1,137 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $303.72, for a total transaction of $345,329.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Thompson S. Baker II sold 7,135 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $300.81, for a total transaction of $2,146,279.35. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,937 shares of company stock valued at $2,687,784 in the last three months. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Westside Investment Management Inc. grew its holdings in shares of Vulcan Materials by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 84 shares of the construction company’s stock worth $25,000 after acquiring an additional 42 shares during the last quarter. NBT Bank N A NY purchased a new position in shares of Vulcan Materials in the fourth quarter worth approximately $26,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Vulcan Materials in the 3rd quarter valued at approximately $29,000. Birchwood Financial Partners Inc. acquired a new position in Vulcan Materials in the 4th quarter worth approximately $29,000. Finally, Godsey & Gibb Inc. purchased a new position in Vulcan Materials during the 4th quarter worth approximately $30,000. Institutional investors own 90.39% of the company’s stock.

About Vulcan Materials

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.